DoL overhauls retirement rules. Here’s what advisors need to know
July 9, 2020 by Andrew Welsch, Jessica Mathews
The Department of Labor’s proposal to replace the vacated fiduciary rule is set to upend standards governing retirement advice.
Like its Obama-era predecessor, the department’s proposal is already facing intense criticism for its allegedly permissive attitude toward conflicts of interests and a hasty rulemaking process. Even Secretary of Labor Eugene Scalia, who as a private attorney led the legal challenge that vacated the fiduciary rule, has become a target of criticism.